Big Red Drinks, Inc

question 49

Multiple Choice

Big Red Drinks, Inc. contracts to buy two tons of cranberries from Super Fruits, Inc. The contract states that Super Fruits is required to ship the cranberries to Big Red Drinks by Speedy Wind Air Freight. The contract is

• A) ​a bill of lading.
• B) ​a destination contract.
• C) ​a shipment contract.
• D) ​a warehouse receipt.

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Definitions:

Rational

Behaviors and decisions that maximize a person’s chances of achieving his or her goals.

Behavioral Economists

Economists focusing on how psychological, social, cognitive, and emotional factors influence the economic choices made by individuals and institutions.

Systematic Errors

Errors that consistently occur in the same direction and are caused by faults in the measurement system, not randomness.

Irrational

Behavior or actions that are not based on sound judgment or logic, often contrary to self-interest.